Zullo Investment Group Inc. Raises Stock Position in Pfizer Inc. (NYSE:PFE)

Posted by Joseph Casey on Feb 2nd, 2023

Zullo Investment Group Inc. lifted its stake in shares of Pfizer Inc. (NYSE:PFE – Get Rating) by 3.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,566 shares of the biopharmaceutical company’s stock after buying an additional 555 shares during the quarter. Zullo Investment Group Inc.’s holdings in Pfizer were worth $769,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PFE. Karp Capital Management Corp purchased a new stake in Pfizer in the 3rd quarter valued at $27,000. Steward Financial Group LLC raised its position in Pfizer by 315.3% in the 2nd quarter. Steward Financial Group LLC now owns 544 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 413 shares during the last quarter. Worth Asset Management LLC purchased a new stake in Pfizer in the 1st quarter valued at $29,000. Goodman Advisory Group LLC purchased a new stake in Pfizer in the 2nd quarter valued at $32,000. Finally, Gladius Capital Management LP raised its position in Pfizer by 101.6% in the 2nd quarter. Gladius Capital Management LP now owns 975 shares of the biopharmaceutical company’s stock valued at $52,000 after purchasing an additional 60,528 shares during the last quarter. Hedge funds and other institutional investors own 67.62% of the company’s stock.

Pfizer Price Performance

Shares of NYSE:PFE traded up $0.03 on Thursday, reaching $44.00. 16,186,419 shares of the company were exchanged, compared to its average volume of 25,610,613. The company has a current ratio of 1.59, a quick ratio of 1.37 and a debt-to-equity ratio of 0.35. Pfizer Inc. has a 1-year low of $41.44 and a 1-year high of $56.32. The firm has a market cap of $246.99 billion, a price-to-earnings ratio of 8.03, a price-to-earnings-growth ratio of 1.46 and a beta of 0.63. The company has a 50-day moving average of $49.16 and a 200-day moving average of $47.76.

Pfizer (NYSE:PFE – Get Rating) last posted its quarterly earnings results on Tuesday, January 31st. The biopharmaceutical company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.11. Pfizer had a net margin of 31.27% and a return on equity of 43.02%. The business had revenue of $24.30 billion for the quarter, compared to analysts’ expectations of $24.40 billion. During the same period in the prior year, the company posted $1.08 EPS. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. Equities analysts forecast that Pfizer Inc. will post 3.35 earnings per share for the current fiscal year.

Pfizer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 3rd. Investors of record on Friday, January 27th will be given a $0.41 dividend. The ex-dividend date is Thursday, January 26th. This is a positive change from Pfizer’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 3.73%. Pfizer’s payout ratio is currently 29.93%.

Analysts Set New Price Targets

Several analysts recently commented on PFE shares. BMO Capital Markets reduced their price target on shares of Pfizer from $55.00 to $53.00 and set an “outperform” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. set a $50.00 price objective on shares of Pfizer in a research note on Tuesday. UBS Group set a $45.00 price objective on shares of Pfizer in a research note on Wednesday. Wells Fargo & Company cut shares of Pfizer from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $54.00 to $50.00 in a research note on Tuesday, January 17th. Finally, Morgan Stanley dropped their price objective on shares of Pfizer from $53.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Pfizer currently has an average rating of “Hold” and a consensus price target of $52.13.

About Pfizer

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Pfizer Inc is a research-based global biopharmaceutical company. It engages in the discovery, development, manufacture, marketing, sales and distribution of biopharmaceutical products worldwide. The firm works across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases.